Chile's President-Elect Publishes Government Program Including Tax Reform Proposals

Chile’s new president-elect, Gabriel Boric, has published his government program proposals, which include a number of tax reforms. Proposed measures include:

• Simplifying the tax system for large companies by providing for separate ("disintegrated") taxation of companies and shareholders without providing a credit for first category tax (FCT) paid for shareholders on distributed profits (dividends), with a mechanism to maintain an overall tax burden on distributed profits at "around the OECD…